Zamzam is foreseen as environment for progressive financial relationship between people, organizations and governments, which is user friendly, transparent and provide full control for users over their funds.
Problems that are visible on the crypto currency market, that are aimed to be solved are following:
- Technological entry barrier, which is obvious for each crypto user, since wallet and account usage for crypto is highly different and much harder than usual bank account. For bank account, bank is holder for all cards and passwords, which could be recovered from the bank. In crypto world, user is responsible for his account number, passwords, private keys, which are highly complicated and phising risk is very high, since there is no authority to recover stolen funds.
- Business process, which is not optimized in crypto world. Crypto users have to be high with computer literacy and it is hard to expect high percent of penetration within general population with this kind of market experience. Bank-client environment shall be established prior to increase in number of users within general population, and of course government support, since general population is highly influenced by media and government structures.
- Third obstacle for general acceptance of crypto currency within business world is that crypto has to be verified and legalized by financial structures. It is hard to expect that business will accept crypto prior to this step, because all financial and tax issues related to general business.
ZAM shall provide multipurpose wallet, that is user friendly and has functional interface, and support Bitcoin, Ether, Bitcoin Cash and Zam, while plan is to support Stellar, Litecoin and EOS as well. In the process, wallet will allow users to interact within crypto world with their account, without complicated procedures and private key usage.
ZAM exchange will provide all means of conversion that could be envisaged – fiat to fiat, fiat to crypto, crypto to fiat and crypto to crypto. Fiscal authorities will be integrated into wallet, since lack of knowledge in taxation and tax administration is one of the major issues for crypto users in developed countries. Zam.tax will enable simple bookeeping and taxation on blockchain. Listing on Zam token on exchanges is planned for next year, as well as release of new version of zam wallet 1.0, that will include multiple fiat currencies, feature for internal exchange for cryptocurrencies and integration with banks from key countries for accounting and all expenses to be held on one place.
Author: https://bitcointalk.org/index.php?action=profile;u=1573369
